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“Bitcoin will be one of Brazil currencies soon,” says deputy who promotes new law

El Salvador’s Bitcoin Law seems to continue to have influence in other countries. In fact, at least 14 politicians have expressed interest in enacting similar legislation to make Bitcoin legal tender, and many of them are already taking action in this regard.

"Bitcoin will be one of Brazil currencies soon," says deputy who promotes new law

“Bitcoin will be one of Brazil currencies soon,” says deputy who promotes new law

In this regard, Brazil’s federal deputy, Aureo Ribeiro, said in an interview with Radio Cámara that Brazilians will soon be able to buy houses, cars and even a McDonald’s hamburger with Bitcoin, after the approval of their law, which will happen soon.

The interview took place after the approval of the final report by Deputy Expedito Netto on Bill 2.303 / 15, which provides for the regulation of “virtual currencies”.

The approval took place on September 29, when the commission met and voted in favor of the approval of the opinion, which will now be discussed in the plenary session of the Chamber of Deputies.

The congressman said that Brazilians are using Bitcoin in many places, however, Aureo stressed that the market is not yet regulated and therefore does not have legal recognition. That is what the legislation seeks to change.

The deputy said that he is sure that with the approval of the bill, which has an “innovative” text, several countries will copy the regulatory model of Brazil.

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“There we debated a few years to arrive at a text that recognizes this asset, that allows the transaction of this asset in our country, and that will be regulated by a government agency, because we will work with the Central Bank and the CVM (Securities Commission), depending on how this asset will be recognized: as a value or currency of daily use.”

Aureo Ribeiro believes that the text has quality to improve the reality of Bitcoin in Brazil. He added that he believes that the country will become a benchmark for new foreign investment.

It also points out that the law will establish the purchase of products and services with cryptocurrencies.

“We want to separate the wheat from the chaff, create regulations so that you can trade, know where you are buying, know who you are dealing with and have this asset to buy a house, a car, go to McDonald’s to buy a hamburger, it will be a bargaining chip in the country as it happens in other countries.”

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